InnovAge falls as PE backers look to slice stakes - INNV News | RalliesInnovAge falls as PE backers look to slice stakes
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INNV• InnovAge shares fall after secondary offering launch
- Shares of senior care provider InnovAge Holding were down 7% at $9.91 in post-market trading after the launch of a secondary offering.
- The company said private equity firms Apax Partners and Welsh, Carson, Anderson & Stowe will part with 10 million shares.
- Barclays, Goldman Sachs and Wells Fargo are joint bookrunners.
- INNV edged up 0.5% to close at $10.65 on Tuesday, extending its year-to-date gain to 105%.
- The Denver, Colorado-based firm has about 136.45 million shares outstanding.
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